DT Midstream, Inc. (NYSE:DTM) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 3.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 222,541 shares of the company’s stock after purchasing an additional 6,715 shares during the period. Envestnet Asset Management Inc. owned approximately 0.22% of DT Midstream worth $21,471,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC increased its holdings in shares of DT Midstream by 10.1% during the 1st quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company’s stock worth $13,896,000 after buying an additional 13,243 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new position in DT Midstream in the first quarter worth about $274,000. Principal Financial Group Inc. grew its stake in DT Midstream by 8.4% in the first quarter. Principal Financial Group Inc. now owns 264,607 shares of the company’s stock worth $25,529,000 after purchasing an additional 20,510 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in DT Midstream by 4.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 20,575 shares of the company’s stock valued at $1,985,000 after acquiring an additional 800 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in DT Midstream by 1.3% in the first quarter. Teacher Retirement System of Texas now owns 53,059 shares of the company’s stock valued at $5,119,000 after acquiring an additional 676 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $103.29 on Thursday. The company has a 50 day moving average of $104.91 and a 200-day moving average of $100.96. DT Midstream, Inc. has a 1-year low of $69.82 and a 1-year high of $114.50. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69. The company has a market cap of $10.49 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.65 and a beta of 0.78.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. The business had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. During the same period in the previous year, the business posted $0.99 EPS. As a group, equities research analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 16th were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $3.28 annualized dividend and a yield of 3.18%. DT Midstream’s dividend payout ratio is currently 89.37%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Bank of America started coverage on DT Midstream in a report on Monday, March 24th. They set a “buy” rating and a $110.00 price target on the stock. UBS Group upped their price target on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Morgan Stanley set a $115.00 price target on shares of DT Midstream and gave the stock an “underweight” rating in a research note on Tuesday, June 3rd. Williams Trading set a $110.00 price objective on shares of DT Midstream in a report on Monday, March 24th. Finally, US Capital Advisors cut shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a report on Monday, April 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $109.27.

DT Midstream Profile

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.